So, are you tired of paying your landlord’s mortgage payment yet? If you answered yes, and you’d much prefer to be building your own wealth instead of your landlord’s, it’s time to start saving for a home of your own.

Yes, it seems daunting. It seems like it will take forever. But there are some very simple changes you can make that will have your savings account bulging in no time.

It requires discipline, but we know you can do it.

Sell what you no longer need or use

We have a friend who went through her home, every room, every cupboard and drawer and even the garage, to find items the family no longer used or wanted.

She put them up for sale on Facebook Marketplace and in one month she’d made more than $500. And, she hadn’t even sold everything. That $500 gave her down payment savings account a huge boost.

Next, she’s going to tackle their storage unit and hopes to make twice what she made selling things around the home.

Facebook Marketplace is but one online arena on which to sell things. Try posting to these sites as well:

Having trouble finding Facebook Marketplace? Check out the reasons why and how to fix them at BusinessInsider.com.

The key to making online sales is in your description of what you’re selling and, most importantly, your photos. Get tips at CNET.com.

If selling online isn’t something you want to do, hold a garage sale. Get success tips online at DaveRamsey.com, HGTV.com and ConsumerReports.org.

 Take in a roommate

If you have a spare room, consider renting it out. It’s one of the best ways to accumulate a lot of money quickly.

Not only will you make money by charging rent, but you can also charge the tenant for a portion of the utility bills.

Need some tips on how to go about renting out a room in your home? Check out LandlordStudio.com, MoneyCrashers.com and Realtor.com.

Consider a side hustle

  • Drive for Lyft or Uber
  • Deliver food for Instacart, Uber Eats, Postmates, GrubHub, DoorDash
  • Babysit
  • Clean houses
  • Mow lawns
  • Walk dogs
  • Offer handyman or woman services
  • If you sew, create coronavirus masks and sell them online
  • Grocery shop for the self-quarantined
  • Offer errand running services

Advertise your services on Facebook Marketplace and Nextdoor.com.

Go hunting for down payment/closing cost assistance programs

Did you know that there are several mortgage programs that have no down payment requirement? If you or your spouse served in the military, check out the VA-backed mortgage.

If you don’t mind living in a rural area, the United States Department of Agriculture (USDA) offers several programs that require no money down. Explore the options for the Single Family Housing Direct Home Loan or the USDA Single Family Housing Guaranteed Loan.

If you don’t qualify for a zero-down program, consider other avenues that include down payment and/or closing cost assistance.

Federal programs include assistance for first responders and teachers. There are also down payment assistance programs for Native Alaskans, Americans and Hawaiians.

Then there are the low-down payment mortgage programs, such as FHA, Freddie Mac and Fannie Mae.

We’re happy to help in your hunt, so feel free to reach out to us.

Cut out the money wasters 

  • Have your coffee at home
  • Stop eating out or calling food delivery
  • Shop for cheaper ISP and cell phone service
  • Workout at home (cancel the gym membership)
  • Give up cable (buy a streaming stick)
  • Brown bag it at lunchtime
  • Walk or ride your bike for errands, etc.

Even if you only use one or two of these tips, you’ll have a good chunk of money to put toward your dream of homeownership.

Again, don’t hesitate to contact us – we are happy to help!